Goldman Sachs Invests $28m in Blockchain Infrastructure Company

The investment bank seems to have made a U-turn on crypto with its support of the blockchain infrastructure platform.

Blockchain infrastructure platform Blockdaemon yesterday announced the completion of a Series A funding round in which it raised $ 28 million. The round was led by Greenspring Associates, with the support of Goldman Sachs, BlockFi, Uphold and former seed round investors CoinShares, Kenetic and Blockchain.com.

Blockdaemon provides a platform for staking, scaling and deploying nodes to run the blockchain economy. The platform supports more than 40 different protocols, including Bitcoin, the Lightning Network, ETH 2.0, Polkadot, Cardano, and Cosmos. A number of companies and institutions use the infrastructure of Blockdaemon, such as exchanges, trading desks, blockchain foundations and banks.

Founder and CEO of Blockdaemon, Konstantin Richter, commented: „With the investment of industry-leading financial technology providers and VC firms, this round allows us to further expand our node infrastructure services, strengthen our growing team and expand our presence in emerging markets around the world, while deepening our existing strategic relationships with global financial institutions.“

Blockdaemon has already experienced significant growth. With an average of over $ 5 billion in staked assets, Blockdaemon expects this number to increase to more than $ 50 billion by the end of the year. The team also grew this year with the appointment of a new Global Senior Vice President of Sales and COO. In the last 12 months alone, Blockdaemon has deployed 10,000 nodes across 40 blockchains in 20 regions worldwide.

Goldman Sachs seems to have made a U-turn on cryptocurrencies. Last year, the investment bank to concludethat crypto is not an investment form. Then she showed herself in her report “Crypto: A New form of Investment?”, which was released last month. And now Goldman Sachs is supporting blockchain development with its Blockdaemon investment.

Oli Harris, North American Head of Digital Assets at Goldman Sachs, explained: „Blockchain is a key driver of innovation in the financial services industry and Blockdaemon is driving their infrastructure forward. We look forward to working with you as you continue to deliver institutional-grade blockchain technology to anyone who wants to leverage it.“

Blockdaemon has already increased its revenue by 1,000% this year and intends to use the funds for targeted acquisitions to accelerate future growth.

Read More

The Top 5 NFT Projects in 2022 According to Experts

You've probably heard a lot about NFT artworks fetching millions of dollars. If this is the case, you'll probably want to get involved and...

Legends of Bezogia Reveals Sustainable Play2Earn Mechanics By Publishing Breakthrough Whitepaper

ZOGI Labs Ltd. reveals shocking whitepaper detailing next-level blockchain gaming mechanics never seen before in the industry. Eliminating core industry issues like token inflation,...

Lyfe, the first music artist to debut its own Metaverse

Miami-based entrepreneur Antonio Trincao, a.k.a. Lyfe, has unveiled the imminent release of his music album and the most innovative entertainment experiences and concerts in...

Inaugural ZENCON a resounding success

Over 200 participants and attendees of the 68-Hour-Hackathon produced 24 projects across 5 categories on the newly introduced ZENIQ Smartchain. Conference to return next...

Gulf Xellence announces the most exciting and largest CRYPTO FEST 2022 to be held on 19th – 20th October in Dubai,UAE

Witness the world of possibilities under one roof – attend CryptoFest 2022. CryptoFest 2022 is a preeminent festival of Blockchain, Cryptocurrencies, NFTs, the Metaverse, Web...